FS KKR Capital Corp. II: management transactions · United States · SEC (Form 4)

About FS KKR Capital Corp. II

FS KKR Capital Corp. II (FSKR) was a U.S.-based publicly traded business development company (BDC) focused on private credit and customized lending solutions for private middle-market companies. The company was incorporated in Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. In its standalone form, it was externally managed by FS/KKR Advisor, a joint venture between Future Standard (formerly Franklin Square) and KKR Credit. A key structural point for investors is that FSKR merged with FS KKR Capital Corp. in June 2021, so it no longer exists as an independent listed issuer; references to FSKR are therefore mainly of historical relevance or appear in legacy SEC and market databases. ([fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/02/fsk-10-k-2025.pdf?utm_source=openai)) From a business perspective, FSKR’s model centered on investing primarily in senior secured debt, and to a lesser extent subordinated debt and selected asset-based financing loans. That made it a representative vehicle of the U.S. direct-lending / private credit ecosystem, competing with other BDCs and specialty finance platforms for yield, downside protection and disciplined underwriting. The investment thesis was built around current income generation, capital preservation and exposure to non-public middle-market borrowers, often with sponsor-backed capital structures. Its competitive advantage was the combination of access to KKR’s credit platform and the sourcing, underwriting and risk-management capabilities of FS/KKR Advisor. ([fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/about/overview/?utm_source=openai)) Geographically, the company was focused primarily on U.S. businesses. The official materials describe the platform as serving private middle-market U.S. companies, with the management and investor-relations footprint tied to the Philadelphia area and the broader U.S. alternative-asset management network. For market-context purposes, this is important because FSKR’s historical filings and insider transactions should be interpreted within the framework of a U.S.-listed issuer, even though the entity is no longer independently listed. ([fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/about/overview/?utm_source=openai)) In terms of recent developments, the most relevant “news” is corporate rather than operational: the merger with FSK in June 2021. For the surviving FSK platform, the latest company communications show continued emphasis on first-lien senior secured origination, diversified portfolio construction and disciplined credit selection. The most recent public materials also indicate that management is still steering the broader FS KKR credit platform through a dynamic private-credit environment. For investors looking at SEC Form 4 insider activity, the correct interpretation is that any FSKR-related filing activity belongs to the historical issuer record rather than an actively traded standalone company. ([fskkrcapitalcorp.com](https://www.fskkrcapitalcorp.com/wp-content/uploads/2026/05/fsk-q1-2026-press-release.pdf?utm_source=openai))